A boutique hotel CEO realized his company had become a victim of wire fraud as the bookkeeper began to get insufficient fund notices for regularly recurring bills. By reviewing the accounting records, they found a serious problem. At a time, a few weeks ago, the hotel CEO had clicked on an email link that he thought was from the IRS, but actually It wasn’t. When he clicked on the link and entered his credentials, the hackers got the CEO’s login information that had given them full access to important business and personal details.

 

The hotel’s reserves of cash were depleted. The fraudulent managed to transfer more than $1 million to an account in China. The hotel also hired a cybersecurity firm so as to help them mitigate the repeat attack risk.